- India’s forex reserves declined below $672 billion after a sharp ~$10 billion weekly fall, largely driven by a drop in gold reserves despite some stability in foreign currency assets. The decline has raised concerns around external buffers and short-term currency stability sentiment in the markets.
- IT stocks down from highs: 1) Happiest Mind -78%, 2) Newgen Soft -74%, 3) Sonata Soft -66%, 4) Cyient -65%, 5) Birlasoft -63%, 6) Tata Elxsi -63%, 7) KPIT Tech -63%, 8) Nucleus Soft -57%, 9) Mastek -56%, 10) TCS -55%, 11) Zensar Tech -54%, 12) Wipro -53%, 13) L&T Tech -50%, 14) Infosys -48%, 15) Hexaware -48%, 16) Tata Tech -47%, 17) HCL Tech -45%, 18) LTTS -45%, 19) FSL -43%, 20) Intellect -41% & many more. Mutual Funds have lost ~Rs.4.5 lakh cr. in IT in 2026. As per market grapevine, fund managers have largely failed to price in AI disruption impact on IT stocks.
- Are IT Majors becoming Prompt Peons? Accenture has lost nearly 20% post earnings, and Indian IT names like TCS, Infosys, Wipro, HCL Tech, Tech Mahindra also corrected. Core IT services model was built on manpower leverage—few architects, large execution teams. AI is now compressing that model, enabling individuals to generate output that earlier needed entire teams. Question is no longer survival of companies but survival of margins. Future may shift from “intelligence selling” to “AI-enabled execution selling”, where firms act as intermediaries between client and AI systems. Same clients, same vendors, but structurally lower margins. That’s why IT could evolve into a “Prompt Peon” industry over time.
- Stock removals from NSE F&O segment: July – Sammaan Capital, August – Exide & Nuvama Wealth, September – Dalbharat.
- SEBI alert: Transaction in securities of unlisted public limited companies on various platforms. (a) SEBI has observed that certain electronic platforms/websites are facilitating transactions or trading in unlisted securities of public limited companies. (b) SEBI had earlier issued warnings (Dec 09, 2024 & Aug 30, 2016) advising investors against such transactions and against sharing sensitive personal data on these platforms. It has also cautioned against unregistered virtual trading, paper trading, fantasy games, and unlisted debt offerings. (c) Investors are again strongly cautioned that such platforms are neither authorised nor recognised by SEBI. Only SEBI-recognised stock exchanges are permitted to provide a platform for trading and fund-raising in securities. (d) Investors are advised to refer only to SEBI-recognised stock exchanges (details available on www.sebi.gov.in) and avoid any unregulated intermediaries. (e) In case of disputes arising from transactions on such platforms, investors will not have access to standard regulatory grievance redressal or investor protection mechanisms, significantly increasing risk exposure.
